EP Wealth Advisors LLC Sells 28 Shares of Hubbell Incorporated (NYSE:HUBB)

EP Wealth Advisors LLC lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 4.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 573 shares of the industrial products company’s stock after selling 28 shares during the quarter. EP Wealth Advisors LLC’s holdings in Hubbell were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of HUBB. Creative Financial Designs Inc. ADV lifted its position in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell in the 4th quarter valued at $30,000. Johnson Financial Group Inc. boosted its stake in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Hubbell in the 4th quarter valued at $69,000. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on HUBB. Barclays reduced their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price target on Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $449.38.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company’s stock.

Hubbell Trading Up 2.5%

HUBB stock opened at $387.88 on Wednesday. The business has a fifty day moving average price of $343.61 and a 200 day moving average price of $398.18. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The stock has a market capitalization of $20.70 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 1.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last released its earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $3.60 earnings per share. Analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.36%. Hubbell’s dividend payout ratio (DPR) is currently 35.72%.

Hubbell declared that its board has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

About Hubbell

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.